Base Resources reduces debt while waiting for green light from Malagasy
Currently active in Kenya, the Australian producer of heavy mineral sands—used by the pigment industry— still has a long road to follow. Its flagship project in Toliara, Madagascar, is still on hold due to negotiations with local authorities over the fiscal framework.
01/09/2021 at 12h38, by Africa Business+
As a result, Base Resources is working on three parallel plans. The priority is the extension of the Kenyan resource. While waiting for a favourable outcome to the Madagascan application, the Perth-based company has extended the life of its mining operation at Kwale (Dune South) to December 2023. The results of a pre-feasibility study are expected in early September for an extension at Bumamani. Additional permit applications have been submitted in Kenya and Tanzania, where three new permits have already been granted.
Recommended articles
Mines
26/01/2023 at 16h12, by Africa Business+
Toliara Rare Earths: Base Resources sets March deadline for project’s future
Following the Malagasy government’s decision to suspend Base Resources’ activities at its Toliara mineral...
Mines
05/03/2021 at 16h12, by Africa Business+
Base Resources’ heavy fiscal agendas in Kenya and Madagascar
The Australian miner is currently conducting tax negotiations on two fronts: in Kenya, where its Kwale...